New VIP Investing Platform From Binance

Binance introduces ‘Binance Institutional’ with more perks and benefits to cater for a specific niche of customers

Reaching Out to Customers

Binance announced on Thursday the launch of its new platform, Binance Institutional, catered specifically for VIPs and institutional users with market-leading, customized solutions.

This new offering is targeted at a more advanced group of clients that transact more frequently and at a higher quantum. Binance Institutional offers nine VIP tiers with varying VIP privileges which includes fee discounts and higher 24-hour withdrawal limits. 

Source: Binance Institutional is Binance’s latest effort to woo high networth individuals and institutions managing assets

Some questions have arisen regarding how the new platform will be implemented on a regulatory and market-equity basis. Edmund Yong, the Managing Partner and Founder of Celebrus Advisory, a leading blockchain advisory firm in Malaysia, raised questions on the new platform.

“It’s a market-friendly move but regulators may ask questions though. Are retail traders going to be disadvantaged? Information asymmetry is already a chronic problem in the crypto industry, and this does not look like a solution,” Yong mused in reference to the news. “Will trading information remain freely available to all users or partly restricted behind a paywall? Will VIPs get preferential access to high-speed direct market data feeds?”

Binance’s move is timely especially after Coinbase recently shut down Coinbase Pro, a platform meant for advanced traders. 

Source : bsc.news

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